News Details

Parsley Energy, Inc. announced that it has commenced an underwritten public offering of 20 million shares of Class A common stock. The Company expects to grant the underwriters an option to purchase up to an additional 3 million shares of Class A common stock from the Company.

The Company intends to use a portion of the net proceeds of the Equity Offering to fund the aggregate purchase price for certain acquisitions of oil and natural gas interests in the Midland and Southern Delaware Basins, and any remaining net proceeds will be used to fund a portion of the Company's capital program and for general corporate purposes, including potential future acquisitions. The Equity Offering is not conditioned on the consummation of the Acquisitions.

Morgan Stanley and BMO Capital Markets Corp. are acting as joint lead bookrunners for the Equity Offering.

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